I want to buy a property in QLD and it’s got 4 units on one title. I earn over $150k a year and the expected rental income from that investment property is $86k. I want to borrow as high LVR as I can get and I want an offset account too.

Usually, banks may lend up to 80% for this while there are some that may limit it to 65%. We know a few banks that can lend for multiple units on a single title, however, the key here would be to apply with a lender that can offer you the high LVR that you want. Please call us on 1300 889 743 and one of our expert mortgage brokers will help you find the right lender. You can also enquire online if that’s more convenient:https://www.homeloanexperts.com.au/free-quote/

Sunderland

I’m looking to buying a property that has 5 units on one title. The property is worth around $500k-$600k and we’re also looking at a few others. They are all in remote locations in SA. We have a total income of $220k so we should not have a big problem in servicing the loan. Can you help?

We know a bank that can lend for a property with up to 4 units on one title at 95% LVR and can go with any location. It would be best if you can avoid buying in a very remote location if possible. Going over 4 units will be difficult but not impossible. Please call us on 1300 889 743 to speak with one of our brokers about this.

mark

Hi

I want to buy a unit block of 5 units, it’s grossing 70k p.a and the price is just under 1million. The block is already subdivided into 5 lots, I have a company with my wife and myself as shareholders. We earn gross 300k p.a. combined, we own two properties (our home and an investment) combined they are worth 1.9 million and we owe around 400k on the mortgages so we have quite a bit of equity in both.

I want to buy the property and improve the rental income, the objective is to make this investment as cash positive as possible.

Our bank is pushing us to commercial lending and is very unlikely to approve a mortgage for this property although we have an excellent lending history with personal loans over the last 10 years.

Id like to know if we do have any other options to lend for this project?

Hi Mark,
We have a few of options, which one we choose depends on the nature of the block.
We can split the units up between 2 – 3 lenders as they are on different titles.
We can negotiate with one of our lenders to take all of them on a residential basis (home loan).
We can negotiate with a commercial lender to take on all units but at a low rate. Sometimes it can fall under commercial lending policy but we can still get residential pricing. Especially for fixed rates.
If you’d like our help then feel free to contact us https://www.homeloanexperts.com.au/free-quote/

Hello Gable,
Lenders take into account different factors such as your income, liabilities as well as other personal details to calculate your borrowing power. You can instead try out our “How much can I borrow?” calculator to get an indication of your borrowing power. It combines the exact method used by the serviceability calculators of three lenders. Here’s the link to the calculator:https://www.homeloanexperts.com.au/how-much-can-i-borrow/

Justin Vincenti

There is a “2 units in 1” for sale that im interested in getting. Each have their own separate title. One is a 2 bed unit, the other however is a 1 bed unit that is only about 25-30m^2. Are the banks likely to say no because one of them is too small or are they likely to add the size of both units together when considering their descision. It is a dual key mortgage and I plan to live in the smaller unit and rent out the other to pay off the mortgage. Also what would be the maximum LVR?

Hi Justin,
It’s hard to say without knowing the address of the property. Can you post a link to realestate.com.au?
Very likely we can lend 80% LVR. Maybe we can lend 90% or 95% for the larger unit and 80% for the smaller unit. Ideally we’d want to have two separate contracts of sale to be able to do this but it may be possible with one contract for both units.

Justin Vincenti

Also, the rental appraisal for the larger unit is estimated at $180PW.

Justin Vincenti

Also (sorry to be be a pain) just to make the query more interesting, the building is on land that is zoned commercial, even though the building itself is 100% residential.